• Michael Shedlock / Mish
The horn tooters have to wait at least another month before the recession is over judging from the non-manufacturing ISM numbers.
Please consider the July 2009 Non-Manufacturing ISM Report On Business®.
The report shows the NMI (Non-Manufacturing Index) dropped .6% in July to 46.4, contracting for the 10th consecutive month at a slightly faster rate.
The table shows that 8 out of 10 Non-Manufacturing components are worse this month than last month. Only deliveries are in the green while inventories are contracting at a slower rate.
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